JPMorgan Chase, Wells Fargo Suffer $3,500,000,000 in Losses As US Banks Report Massive Surge in Bad Debt

Two of the largest banks in the US are declaring a loss on a staggering $3.5 billion in debts that customers can’t pay back. JPMorgan Chase says its net charge-offs, which are delinquent debts that banks do not expect to receive, hit $2.2 billion in the second quarter of the year. That’s a $200 million […] source: https://dailyhodl.com/2024/07/12/jpmorgan-chase-and-wells-fargo-suffer-3500000000-in-losses-as-us-banks-report-massive-surge-in-delinquent-debt/